Finastra unveils tool to help US banks digitise standby letter of credit processing
What's happening
Finastra announced StandbyX at Money 20/20 in Las Vegas, a cloud-enabled, SaaS platform to help U.S. banks digitize and automate standby letter of credit (SBLC) processing. StandbyX is pitched as a way for banks to automate SBLC workflows and strengthen risk management and operational efficiency without implementing a full trade finance system. The solution uses a cloud model to simplify deployment and reduce complexity for banks handling SBLCs.
Why it's trending
Money 20/20 served as the launch platform and the product promises a lower-friction, SaaS route to digitize a historically manual SBLC process.
SignalNewly emerging, confirmed across 1 independent source type.
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If your bank still handles SBLCs on paper or spreadsheets, this is why StandbyX matters today: it offers a cloud SaaS to automate those exact workflows without replacing your whole trade finance stack.
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Original sources4
- Finastra launches StandbyX for US banks handling SBLCs
Finastra, a financial software provider, has launched StandbyX, a cloud-based platform designed to help US banks automate standby letter of credit (SBLC) processing without implementing a full trade finance system. Unveiled at Money 20/20 in Las Vegas, the software uses a software-as-a-service (SaaS) model to simplify deployment and reduce the complexity of digitising these workflows. […] Th
FinTech GlobalOct 20 - Fiserv Aims to Simplify Cross-Border Commerce With Commerce Hub
Payments and financial services technology solutions provider Fiserv has launched its Commerce Hub platform. The new offering is designed to let merchants “orchestrate and simplify commerce through a single connection to Fiserv’s commerce capabilities,” the company said in a Monday (Oct. 19) news release. “Commerce Hub currently supports more than several billions in processing and growing more th
PYMNTSOct 19 - Finastra unveils tool to help US banks digitise standby letter of credit processing
Today at Money 20/20 in Las Vegas, Finastra announced Finastra StandbyX, a cloud-enabled solution designed to help U.S. banks digitize and automate standby letter of credit (SBLC) processing while strengthening risk management and operational efficiency.
FinextraOct 19 - Fiserv launches platform to simplify cross-border commerce
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced the global availability of Commerce Hub, a platform that enables enterprise merchants to orchestrate and simplify commerce through a single connection to Fiserv's commerce capabilities.
FinextraOct 19
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